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KOREA-SINGAPORE
Korea-Singapore FTA&EIA
Interactive trade indicators
Technical notes for performance indicators
Performance Indicators :
Select indicator...
Export Propensity
Export Shares
Export-import coverage
Import Dependence
Import Shares
Normalized Trade Balance
Trade Dependence
Trade Shares
Member Countries
Korea, Rep.of
Singapore
Free Trade Agreement Between the Government of the Republic of Korea and the Government of the Republic of Singapore
Status :
Signed in
2005
.
In force since 2006
Scope :
Bilateral
Type :
FTA & EIA
WTO Notification :
GATT Art XXIV, GATS Art V
2006
Agreement text :
http://docsonline.wto.org/imrd/gen_redirectsearchdirect.asp?RN=0&searchtype=browse&query=@meta_Symbol%22WT/REG210/1%22&language=1&ct=DDFEnglish
Other links :
http://www.mofat.go.kr/ENG/policy/fta/status/effect/singapore/index.jsp?menu=m_20_80_10&tabmenu=t_2&submenu=s_2
WTO consideration process :
http://docsonline.wto.org/imrd/gen_redirectsearchdirect.asp?RN=0&searchtype=browse&query=@meta_Symbol%22WT/REG210/3/Rev.1%22&language=1&ct=DDFEnglish
GOODS
Tariffs
Positive list
Tariff elimination in 10 years time; Tariff concessions from Korea cover 91.6 trade in goods, immediately 59.7 %) and from Singapore 100% of all the goods traded
Ensure that excise taxes and other charges are not levied in an unjust manner that will result in discrimination against imported products.
Rules of Origin
Waive the requirement for a certificate of origin for low-value originating goods
An advance ruling on the eligibility of originating goods for preferential tariffs and tariff classification.
Contingency Measures
Anti - Dumping :
Although the KSFTA allows for the continued use of anti-dumping measures under the Trade Remedies Chapter, the provisions have been tightened to limit the amount of AD duties that may be imposed.
Countervailing Duties :
Within WTO rules
Safeguards :
Allowed to take bilateral safeguard action of durations of not more than two years.
Standards :
n.a.
Notes:
Annex IV and Annex V and articles mentioned therein deal with coverage for agricultural goods.
SERVICES
WTO Notification (GATS Art. V)
:
Notified
Date of notification 21/02/2006
Consideration Process : Factual Presentation issued
Liberalization Approach
:
Negative Lists
Modes Covered
Cross-border supply (Mode1)
Consumption abroad (Mode2)
Presence of natural persons (Mode4)
Specific Chapters on
Financial services
Specific Sectors Excluded
Air transport
Public Sectors carve-out
:
GATS-like (Article I:3(b))
Most Favoured Nation
:
Not featured
National Treatment
:
Binding
Market Access
:
Binding
Domestic Regulation
:
Binding but subject to legitimate expectations (GATS-like)
Subsidies covered by services disciplines
:
Not covered
Denial of benefits for commercial presence
:
n.a
Notes
:
Link to schedules
:
INVESTMENT
Scheduling Approach
:
Negative Lists
Definition of investment
:
Covers portfolio investment
Most Favoured Nation
:
Not Featured
National Treatment
:
Binding
NT provision applies to entry and establishment rights
Fair and Equitable Treatment
:
Binding
Clarifying text on FET
Expropriation
:
Binding
Clarifying text
Board of Directors and executive personnel
:
Binding
Invester - State arbitration
:
Denial of Benefits
:
Article 10.17 Denial of Benefits Subject to prior notification and consultation in accordance with Article 19.3 (Notification and Provision of Information) and 20.4 (Consultations), a Party may deny the benefits of this Chapter to an investor of the other Party that is an enterprise of such other Party and to investments of that investors if investors of a non-Party own or control the enterprise and the enterprise has no substantive business operations in the territory of the other Party under whose law it is constituted or organized.
Additional BIT exists between the parties
:
BIT list I :
Status:
BIT list II :
Status:
Notes
:
Link to schedules
:
TRADE FACILITATION
Customs procedures :
Yes
Article 5.1, 5.2, 5.3, and 5.4 of the Agreement
Customs valuation :
Yes
Article 3.5 and Article 3.9 of the Agreement
Trade regulations publication and administration (transparency) :
Yes
Article 5.13 and Article 5.16 of the Agreement
E-Commerce / Paperless trade :
No
Cooperation in trade facilitation :
No
OTHER AREAS
Government Procurement :
Yes
Investment :
Yes
Asset based-open list: includes FDI, portfolio investment and various forms of tangible and intagible property.
Competition Policy :
Yes
Intellectual Property :
Yes
Chapter 17 - Based on TRIPS
Dispute Settlement :
Yes
Ad-hoc arbitration. Parties can block panels.
Labor Mobility :
No
Labor and Environmental Standards :
Yes
Article 18.10 on Human resources management and development. Article 10.18 covers Environmental measures. Article 18.9 refers to Environment.
Technical cooperation :
Yes
Institutional mechanism :
No
Notes:
RULES OF ORIGIN
Cumulation
n.a.
Specific Process
n.a.
Heading Change
n.a.
De Minimis
n.a.
Minimum Content
Negotiated on a product-specific approach
Drawback
n.a.
Http Link
http://app.fta.gov.sg/asp/fta/pagetemplate1.asp?pg_id=korea_legal_text&ctryname=Korea&pagetitle=Legal%20Text
Notes
Annex 4A, 4B, 4C
KOREA-SINGAPORE
Korea-Singapore FTA&EIA
Member Countries
Korea, Rep.of
Singapore
Total: 2 countries
Free Trade Agreement Between the Government of the Republic of Korea and the Government of the Republic of Singapore
Status :
Signed in
2005
.
In force since
2006
Scope :
Bilateral
Type :
FTA & EIA
WTO Notification :
GATT Art XXIV, GATS Art V
2006
Agreement text :
http://docsonline.wto.org/imrd/gen_redirectsearchdirect.asp?RN=0&searchtype=browse&query=@meta_Symbol%22WT/REG210/1%22&language=1&ct=DDFEnglish
Other links :
http://www.mofat.go.kr/ENG/policy/fta/status/effect/singapore/index.jsp?menu=m_20_80_10&tabmenu=t_2&submenu=s_2
WTO consideration process :
http://docsonline.wto.org/imrd/gen_redirectsearchdirect.asp?RN=0&searchtype=browse&query=@meta_Symbol%22WT/REG210/3/Rev.1%22&language=1&ct=DDFEnglish
GOODS
Tariffs
Positive list
Tariff elimination in 10 years time; Tariff concessions from Korea cover 91.6 trade in goods, immediately 59.7 %) and from Singapore 100% of all the goods traded
Ensure that excise taxes and other charges are not levied in an unjust manner that will result in discrimination against imported products.
Rules of Origin
Waive the requirement for a certificate of origin for low-value originating goods
An advance ruling on the eligibility of originating goods for preferential tariffs and tariff classification.
Contingency Measures
Anti - Dumping :
Although the KSFTA allows for the continued use of anti-dumping measures under the Trade Remedies Chapter, the provisions have been tightened to limit the amount of AD duties that may be imposed.
Countervailing Duties :
Within WTO rules
Safeguards :
Allowed to take bilateral safeguard action of durations of not more than two years.
Standards :
n.a.
Notes:
Annex IV and Annex V and articles mentioned therein deal with coverage for agricultural goods.
SERVICES
WTO Notification (GATS Art. V)
:
Notified
Date of notification : 21/02/2006
Consideration Process : Factual Presentation issued
Liberalization Approach
:
Negative Lists
Modes Covered
Cross - Border Supply :
Yes
Consumption Abroad :
Yes
Movement of Natural Persons :
Yes
Specific Chapters on
Financial services :
Yes
Specific Sectors Excluded
Air transport :
Yes
Public Sectors carve-out
:
GATS-like (Article I:3(b))
Most Favoured Nation
:
Not featured
National Treatment
:
Binding
Market Access
:
Binding
Domestic Regulation
:
Binding but subject to legitimate expectations (GATS-like)
Subsidies covered by services disciplines
:
Not covered
Denial of benefits for commercial presence
:
n.a
Notes:
Link to schedules
:
INVESTMENT
Scheduling Approach
:
Negative Lists
Definition of investment
:
Covers portfolio investment
Most Favoured Nation
:
Not Featured
National Treatment
:
Binding
NT provision applies to entry and establishment rights :
Yes
Fair and Equitable Treatment
:
Binding
Clarifying text on FET :
Yes
Expropriation
:
Binding
Clarifying text :
Yes
Board of Directors and executive personnel
:
Binding
Invester - State arbitration
:
Yes
Denial of Benefits
:
Article 10.17 Denial of Benefits Subject to prior notification and consultation in accordance with Article 19.3 (Notification and Provision of Information) and 20.4 (Consultations), a Party may deny the benefits of this Chapter to an investor of the other Party that is an enterprise of such other Party and to investments of that investors if investors of a non-Party own or control the enterprise and the enterprise has no substantive business operations in the territory of the other Party under whose law it is constituted or organized.
Additional BIT exists between the parties
:
No
BIT list I :
Status:
BIT list II :
Status:
Notes
:
Link to schedules
:
TRADE FACILITATION
Customs procedures :
Yes
Article 5.1, 5.2, 5.3, and 5.4 of the Agreement
Customs valuation :
Yes
Article 3.5 and Article 3.9 of the Agreement
Trade regulations publication and administration :
Yes
Article 5.13 and Article 5.16 of the Agreement
Use of ICT :
No
Mobility of business people :
No
Freedom of transit :
Yes
Article 5.10 of the Agreement
Transport and logistics :
No
Trade finance :
No
OTHER AREAS
Government Procurement :
Yes
Investment :
Yes
Asset based-open list: includes FDI, portfolio investment and various forms of tangible and intagible property.
Competition Policy :
Yes
Intellectual Property :
Yes
Chapter 17 - Based on TRIPS
Dispute Settlement :
Yes
Ad-hoc arbitration. Parties can block panels.
Labor Mobility :
No
Labor and Environmental Standards :
Yes
Article 18.10 on Human resources management and development. Article 10.18 covers Environmental measures. Article 18.9 refers to Environment.
Technical cooperation :
Yes
Institutional mechanism :
No
Notes:
RULES OF ORIGIN
Cumulation
n.a.
Specific Process
n.a.
Heading Change
n.a.
De Minimis
n.a.
Minimum Content
Negotiated on a product-specific approach
Drawback
n.a.
Http Link
http://app.fta.gov.sg/asp/fta/pagetemplate1.asp?pg_id=korea_legal_text&ctryname=Korea&pagetitle=Legal%20Text
Notes
Annex 4A, 4B, 4C
Copyright (c) 2005 UNESCAP |
Legal Notice
